- According to a Reuters poll. the central bank is expected to hike its benchmark policy rate by at least 100 basis points during the next four MPC meetings.
- Monetary Policy Committee has backed even more in upcoming sessions this year to keep price pressures under control which reached an eight-year high in May.
- It has also been estimated that the repo rate is likely to reach or exceed its pre-pandemic level of 5.15 percent next quarter.
- Many economists estimated that inflation was to remain in the 6%-7% range well into the current and next fiscal year.
- As inflation is also expected to remain high due to high global energy and food costs still RBI doesn’t achieve the target of inflation and needs to take a decision on it and also what to do about interest rates.
Question:
Q.1 According to a Reuters poll, the benchmark policy rate will increase at least by _______ basis points?a. 120 basis points
b. 100 basis points
c. 80 basis points
d. 50 basis points
